Manufactures naval and defence-grade special steel products — bulb bars for naval applications, low-magnetic-permeability ballast bricks for submarines, armoured steel profiles (now 26 variants for T-90 tanks), and special steel alloy welding wires/electrodes. Operates from a 150,000 sq ft Halol, Gujarat facility, where bulb bar capacity was doubled in April 2025; an additional 50,000 sq ft adjoining plot has been acquired for further expansion. Customers include the Indian Navy, DRDO, HVF Chennai (T-90 tank programme), and the Ministry of Defence, which awarded a Rs 20 crore order for Special Steel Products in August 2026. Beyond the core steel range, new product lines under development include AUVs with the Navy/DRDO, aircraft arresting gear, smart ammunition (Taharabadkar), and composite doors through the VABO JV; the company also holds 20% in Conceptia (ship/submarine design) and 40% in Waveoptix (RF-optical fibre). The largest cost line is materials at 35.2% of revenue, followed by other operating expenses at 19.1% and employees at 8.3%, with depreciation at 1.7%. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Naval bulb bars, Special steel alloy welding wires and electrodes, Submarine ballast bricks, Armoured steel profiles, Improved space heating devices, New defence products (under development). Defence manufacturer focused on naval-grade special steel with emerging new-product pipeline in unmanned and allied defence systems
| ₹ crore · consolidated | FY25 | FY26 |
|---|---|---|
| Revenue | 195 | 245 |
| EBITDA (ex other income) | — | 52 |
| margin % | — | 21.3 |
| Owners' profit | — | 41 |
| EPS, as reported (₹) | 15.82 | 28.12 |
| ROE % · ROCE % | — · 23.2 | 21.3 · 26.3 |
| Debt / equity (x) | — | 0.01 |
| Cash from operations | (11) | 86 |
| Capex | (13) | 0 |
| ₹ crore | Q4 FY25 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|
| Revenue | 101 | 120 | 64 | 65 | 58 |
| Profit before tax | 15 | 21 | 13 | 17 | 15 |
| Net profit | — | — | 10 | 13 | 11 |
| EPS (₹) | 8.12 | 12.71 | 6.78 | 8.61 | 7.66 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| HINDUSTAN AERONAUTICS LTD | 3,28,037 | 35.2 | 7.99 | 24.1 | 22.2 | 13.7 | 7.8 | 44.0 |
| BHARAT ELECTRONICS LTD | 2,95,572 | 48.1 | 12.31 | 34.1 | 25.3 | 31.9 | 14.4 | 28.1 |
| BHARAT DYNAMICS LIMITED | 43,621 | 83.7 | 10.29 | — | 9.9 | 7.2 | — | 32.6 |
| GARDEN REACH SHIP&ENG LTD | 28,027 | 35.0 | 10.67 | — | 28.5 | 36.2 | — | 13.7 |
| DATA PATTERNS INDIA LTD | 27,042 | 100.9 | 15.58 | — | 15.6 | 20.3 | — | 33.3 |
| ASTRA MICROWAVE LTD | 16,031 | 84.8 | 12.20 | 45.8 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 26 Aug 2026 · KRISHNADEF wins DRISHTI Challenge for defence component manufacturing | business updates | high | — | — |
| 26 Aug 2026 · Krishna Defence wins Fastest Growing SME Award in Gujarat | business updates | medium | — | — |
| 17 Aug 2026 · Q1 FY27 Results: PAT up 33% YoY; revenue declines 15% | results | low | — | — |
| 14 Aug 2026 · Company Secretary resigns from Krishna Defence | management changes | medium | — | — |
| 14 Aug 2026 · Company Secretary Resigns from Krishna Defence and Allied Industries | management changes | high | — | — |
| 14 Aug 2026 · Krishna Defence Q1 FY27 Earnings: Margins Hit Record High | investor communications | medium | — | — |
| 12 Aug 2026 · Q1 FY27 results approved with senior management promotion | results | high | — | — |
| 1 Aug 2026 · Krishna Defence bags Rs 20 Cr order from Ministry of Defence | business updates | medium | — | — |
| 17 Jul 2026 · AGM results: all 17 resolutions passed with 100% approval, 12.5% dividend cleared | board shareholder meetings | low | — | — |
| 15 Jul 2026 · AGM approves director re-appointments, new auditors, and 12.5 percent dividend | management changes | medium | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions |
| 14.7 |
| 17.2 |
| 12.7 |
| 20.1 |
| APOLLO MICRO SYSTEMS LTD | 15,650 | 121.7 | 11.96 | 71.7 | 8.2 | 10.4 | 34.8 | 22.3 |
| ZEN TECHNOLOGIES LIMITED | 15,599 | 86.2 | 8.00 | 46.5 | 11.2 | 15.1 | 65.9 | 38.5 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 30.1 | 83.7 | 3 of 23 | 91% |
| P/B | 8.3 | 10.6 | 9 of 23 | 64% |
| ROCE | 26.1 | 13.6 | 5 of 26 | 84% |
| ROE | 21.4 | 10.9 | 6 of 23 | 77% |
| Debt / Equity | 0.0 | 0.0 | 10 of 23 | 59% |
| EBITDA margin | 27.9 | 22.3 | 8 of 23 | 68% |
| Revenue growth | (42.9) | 24.9 | 22 of 23 | 5% |
| Market cap | 1607 | 7486 | 23 of 26 | 12% |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
